The chief financial officer of Ocwen, John V. Britti, has been appointed to the role of chief investment officer. He’s been with the company since February 2011.
Britti, who is also an executive vice president at the Atlanta-based firm, relinquishes his old job and starts the new one on June 2.
Ocwen made the disclosure Tuesday in an 8-K filing with the Securities and Exchange Commission.
Taking over the CFO slot is Michael R. Bourque Jr. Ocwen said that Bourque was recruited from General Electric Co., where he spent 15 years. He’ll also be designated as an executive vice president.
Bourque’s annual base salary will be $400,000, and his incentive bonus opportunity will be as much as $400,000 depending on performance. When he relocates to the U.S. Virgin Islands, he’ll receive a $50,000 bonus, while he’ll get another $50,000 on April 28, 2015.
Former Nationstar Mortgage senior high risk analyst Libby Johnson has launched Washington, D.C.-based High-Risk Analytics, a news release Tuesday said. The due diligence consulting firm “will endeavor to discourage superfluous spending and encourage efficiency by pinpointing unallowable expenses from loans in default passed from servicers to investors.”
Another Nationstar executive, Lisa Rodgers, has left her job as executive vice president, Inside Mortgage Finance reported last week.
The new vice president of retail lending for the east region at Caliber Home Loans Inc. is Michael Borodinsky, a May 9 announcement indicated. His three decades in the business included time at Chase Home Finance, MetLife Home Loans and Sun Home Loans, according to his LinkedIn profile.
“In his career, Michael has funded over $4 billion in residential loans to more than 10,000 customers,” Caliber Executive Vice President John Bianchi said in the statement.
Cherry Creek Mortgage Company Inc.-subsidiary 1st Reverse Mortgage USA announced a shakeup among its executive ranks, a news release earlier this month stated. The. sales organizational alignment is intended to continue to take the Lakewood, Colo.-based company into its next phase of long-term growth.
The 1st Reverse appointments include:
- Trish Kauker, corporate accounts business development manager;
- Tim Malcolm, southwest regional manager;
- Steve Scheiern, western regional manager; and
- Randy W. Strom, mountain plains regional manager.